Inter Pipeline (TSE:IPL) Downgraded to Neutral at CIBC

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Inter Pipeline (TSE:IPL) was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$22.00 price target on the stock, down from their previous price target of C$24.00. CIBC’s target price indicates a potential upside of 1.38% from the company’s current price.

Other research analysts have also recently issued reports about the stock. National Bank Financial increased their price target on shares of Inter Pipeline from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. BMO Capital Markets increased their price target on shares of Inter Pipeline from C$23.00 to C$24.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Inter Pipeline from C$23.00 to C$25.00 in a research report on Wednesday, August 28th. Industrial Alliance Securities cut shares of Inter Pipeline from a “strong-buy” rating to a “hold” rating and increased their price target for the company from C$25.50 to C$26.00 in a research report on Monday, August 12th. Finally, Raymond James upgraded shares of Inter Pipeline from an “underperform” rating to a “market perform” rating and increased their price target for the company from C$20.00 to C$25.00 in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Inter Pipeline currently has a consensus rating of “Hold” and an average price target of C$25.33.

IPL stock opened at C$21.70 on Friday. Inter Pipeline has a 1-year low of C$18.60 and a 1-year high of C$25.42. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 153.30. The company’s 50 day moving average is C$22.55 and its 200 day moving average is C$22.27. The stock has a market cap of $8.95 billion and a price-to-earnings ratio of 12.93.

Inter Pipeline (TSE:IPL) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.28 EPS for the quarter, beating analysts’ consensus estimates of C$0.27 by C$0.01. The business had revenue of C$641.60 million for the quarter, compared to the consensus estimate of C$556.00 million. As a group, sell-side analysts forecast that Inter Pipeline will post 1.3 EPS for the current fiscal year.

About Inter Pipeline

Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids processing businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation; Conventional Oil Pipelines; Natural Gas Liquids (NGL) Processing; and Bulk Liquid Storage.

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Analyst Recommendations for Inter Pipeline (TSE:IPL)

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